Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Affymax, Inc.

  Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Affymax,
  Inc.

Business Wire

LOS ANGELES -- March 25, 2013

Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been
filed in the United States District Court for the Central District of
California on behalf of a class (the “Class”) comprising all purchasers of the
securities of Affymax, Inc. (“Affymax” or the “Company”) (NASDAQ:AFFY) between
December 8, 2011 and February 22, 2013. The Complaint alleges that throughout
the Class Period the Company and certain of its executive officers issued
materially false and misleading statements regarding the Company’s business
and financial prospects.

Affymax is a biopharmaceutical company engaged in the development of drugs in
the United States for the treatment of serious and life-threatening
conditions. On February 23, 2013 Affymax and Japan-based Takeda Pharmaceutical
Company Limited (Takeda) issued a joint announcement of a nationwide voluntary
recall of OMONTYS (peginesatide) Injection. OMONTYS Injection is a treatment
for anemia due to chronic kidney disease in adult patients on dialysis.
Affymax has a strategic alliance agreement with Takeda to develop and
commercialize OMONTYS. According to the Company, the recall is related to “new
postmarketing reports regarding serious hypersensitivity reactions, including
anaphylaxis, which can be life-threatening or fatal.” The Complaint alleges
that defendants failed to disclose that 0.02% of patients who were
administered OMONTYS experienced fatal anaphylaxis reactions. As a result of
this false statement, Affymax stock traded at artificially inflated prices
during the Class Period.

No class has yet been certified in this action. Until a class is certified,
you are not represented by counsel unless you retain one. If you purchased
Affymax shares during the Class Period, you have certain rights, and have
until April 29, 2013 to move for lead plaintiff status. To be a member of the
class you need not take any action at this time, and you may retain counsel of
your choice. If you wish to learn more about this action or have any questions
concerning your rights or interests with respect to these matters, please
contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925
Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at
(310) 201-9150, Toll Free at (888) 773-9224, by e-mail to
shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

Contact:

Glancy Binkow & Goldberg LLP, Los Angeles, CA
Michael Goldberg
310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
 
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